The global Adhesive And Sealant Market is estimated to reach nearly USD 52 billion by 2024 (2016 to 2024 – forecast period). Adhesives are substances which permanently join two surfaces or materials. Sealants, on the other hand, are used to bind the gaps between two materials. They prevent liquid-seepage through openings.

The market had a demand of 11.7 million tons (in terms of volumes) in 2015. Growth of automotives, packaging, and construction industries is anticipated to fuel these volumes till 2024. Infrastructural developments and need for reducing vehicular-weights are the primary market drivers. Strict regulations encouraging bio-based products can challenge market growth.

Bio-based adhesives are gaining prominence due to their low manufacturing costs and eco-friendliness. The adhesive and sealant industry is divided on the basis of technologies, products, applications, and regions. Solvent-based, water-based, reactive & others, and hot melt are the technologies.

Water-based led with over 40% shares in 2015. It exceeded USD 8 billion that year. This segment is predicted to dominate over the next eight years. The same can be credited to its ability to lower VoC (volatile organic content) emissions.

EVA adhesives accounted for over 400 kilotons (KT) in 2015. They should regain their shares in the near future. Silicone sealants reportedly surpassed USD 2 billion in 2015. They will grow further due to expanding automotives and construction industries.

Pressure sensitive adhesive applications were valued over USD 6 billion in 2015. They are expected to generate over 4 KT by 2024, at 4.8% CAGR. Packaging accounted for over 20% demand in 2015. Automotive sealants generated more than 18% demand the same year. They can exhibit 5.4% CAGR till 2024.

North America captured over 20% shares with respect to demand in 2015. It is expected to witness slow growth in the forecast period. The demand for silicone sealants in Europe exceeded 150 KT in 2015. It will expand significantly. LATAM is led by Brazil and followed by Argentina & Mexico.

Major players operating in the worldwide adhesive and sealant market include the 3M Company, The Dow Chemical Company, Henkel AG & Co. KGaA, and H. B. Fuller. Together, they hold more than 45% of the industry.

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